When the United States was under the gold standard, recessions were ________ and long-term inflation was ________
A) more frequent; virtually nonexistent
B) less frequent; virtually nonexistent
C) more frequent; prevalent
D) less frequent; prevalent
A
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When deciding whether the economy has entered an economic recession, the NBER's Business Cycle Dating Committee examines and compares the behavior of various measures of broad activity
The measures the committee focuses on include all of the following except A) real GDP measured on the product and income sides. B) production data for specific, individual industries. C) economy-wide employment. D) real income.
A firm will exit a competitive market when
A) costs force the marginal cost curve to shift to the left. B) the long-run profit would be negative. C) it can earn only earn a zero long-run profit. D) Both B and C.
The slope of the supply of loanable funds curve represents the
a. positive relation between the real interest rate and investment. b. positive relation between the real interest rate and saving. c. negative relation between the real interest rate and investment. d. negative relation between the real interest rate and saving.
Child mortality rates are much higher in middle-income countries than in low-income countries
Indicate whether the statement is true or false